Every two weeks, California YIMBY brings you summaries of cutting-edge research from the nation’s top housing experts. In this edition:
Not just a trickle: Allowing homebuilders to provide sorely-needed housing where it is most desired — in transit-rich urban areas close to jobs, services, and amenities — brings immediate benefits to low-income renters, even if that housing is market-rate. A new working paper from the W.E. Upjohn Institute’s Evan Mast shows that:
Building 100 new market-rate units leads people to move toward those units and away from low-income neighborhoods, with almost all of the effect occurring within five years. The findings suggest new construction reduces demand in low and middle-income areas in the short run. A review of the address history of over 50,000 residents found 20 percent of residents in new homes moved from neighborhoods below their metro area’s median income. The takeaway: Building homes in areas of high opportunity attracts residents seeking higher incomes and better access to amenities like jobs and schools.
California Cities: Zoned Out on New Apartments– Jenny Schuetz of the Brookings Institute and Cecile Murray from the University of Chicago have a new working paper entitled “Is California’s Apartment Market Broken?”— and the short answer is, YES.
Key findings:
+ Cities with the highest rents issued the fewest multi-family permits
+ Most California municipalities zone most of their land for single-family homes
+ Cities with less-restrictive zoning build more apartments
+ Building height restrictions make the problem harder to solve |